TCS: Classic Down trend Channel, Chart setup & trading strategy
Actualizado
In our July 2022 coverage, we had marked the red line zone as possible resistance zone and that is precisely what TCS has followed. It has fallen exactly from those levels
- If we look at the broader picture, Since the beginning of the year, TCS has been trading in a classic down trend channel. Now with results round the corner, the stock is in the middle of the channel range.
In the current set up
- we also observe a gap recently formed on September 14 2022 and the stock has struggled to surpass that gap so far
- stock is trading below 21 day EMA and below 53 day EMA
There seems to be lack of confidence and /or lack of belief amongst bulls even at current levels to go Long in the stock.
The Blue line is where things might look better for TCS buyers (refer the chart below)
You can plan your trade accordingly.
Not getting in to details of trading idea here, as efforts don't get the deserved Likes and Follow. 😒
Best wishes & safe trading...!!!
Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- I have been wrong in the past and can be wrong again in future too
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
- If we look at the broader picture, Since the beginning of the year, TCS has been trading in a classic down trend channel. Now with results round the corner, the stock is in the middle of the channel range.
In the current set up
- we also observe a gap recently formed on September 14 2022 and the stock has struggled to surpass that gap so far
- stock is trading below 21 day EMA and below 53 day EMA
There seems to be lack of confidence and /or lack of belief amongst bulls even at current levels to go Long in the stock.
The Blue line is where things might look better for TCS buyers (refer the chart below)
You can plan your trade accordingly.
Not getting in to details of trading idea here, as efforts don't get the deserved Likes and Follow. 😒
Best wishes & safe trading...!!!
Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- I have been wrong in the past and can be wrong again in future too
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
Operación cerrada: objetivo alcanzado
We had gone with a Bear Call Spread strategy in here with a SL kept at 3225 in Cash market.Sold 3180 Call option at 43.5 and Bought 3300 Call option at 17
Net receivables 26.5 points
The strategy has given the desired profit.
And the position is closed
Take care & safe trading...!!!
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